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China Resources Cement (01313) stake in the cement business of Shanxi
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China Resources Cement (01313) announced that the agreed price for 72 dollars (about 561.6 yuan) to Xing Libin Guardwise Investments acquired 72% interest in China Resources Cement and Xing's also agreed that, from time to time, and its Mountain West GuardwiseInvestments Dragon Cement for a total of not more than 2.11 billion yuan (about 2.398 billion yuan) in shareholder loans, whereby the shareholders of China Resources Cement to provide loans of up to 1.519 billion yuan (about 1.726 billion yuan). Xing's Guardwise Investments has provided 30 million U.S. dollars (about 234 million) in shareholder loans, which have been injected into the cement as the registered capital of Lucky Dragon. Under the Shareholders Agreement, China Resources Cement share transfer agreement will be the completion date to provide $ 64,800,000 to GuardwiseInvestments (about 50,500 yuan) in shareholder loans. Guardwise Investments only asset for the entire equity interest of Lucky Dragon Cement, which will be mainly engaged in cement production, sale and distribution of cement products business. Refer to the acquisition of China Resources Cement will enable the company to extend its market to the Shanxi Province.
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